U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21344 / December 18, 2009

On December 11, 2009, the Honorable Chief Judge Michael J. Davis of the U.S. District Court for the District of Minnesota issued an Order for a Rule to Show Cause ("Show Cause Order") against Trevor G. Cook ("Cook") requiring Cook to show cause why an order of contempt should not be entered against him for violating the Court's order entered on November 23, 2009. A hearing was commenced on December 11, 2009 and continued to January 8, 2010.

The Court's Show Cause Order stemmed from the SEC's Motion, filed on December 10, 2009, which alleged, among other things, that Cook violated the Court's asset freeze and receivership orders entered on November 23, 2009, by using an undisclosed credit card to make thousands of dollars of retail purchases and by failing to turn over assets to the Court appointed receiver, to repatriate assets held in foreign countries, and to produce an accounting of investor funds.

The SEC previously filed a complaint against Cook and other defendants on November 23, 2009. The SEC's complaint charges Cook with violating Sections 5 and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder in connection with a foreign currency trading scheme that raised at least $190 million from more than 1000 investors.